Scenario: The product is a portable multimedia center to be marketed in the U. S. market, called â€œMedia Popupâ€ made by the start-up company Porttron, Inc. The multimedia center is a glossy compact entertainment box 10â€X12â€ and includes a screen with optional additional screen extension that pops out of the right side, computer keyboard that folds down, 4 surround sound mini-speakers that can be adhered to any hard surface with the stick strips at the back of each speaker, and includes a subscription to streamed movies, music, and videos for two years for $499. It is available in 3 different colors (black, silver, white).
Business Memo: You are a marketing assistant at Porttron Inc. tasked with providing a business memo (i.e., an internal company document) to the United States (U.S.) executive management team of Porttron Inc. concerning the checklist items provided below.
Write a minimum 500-word original business memo. In a concise manner, describe to executive management the data you will analyze to determine a potential market for this product. State your purpose in the opening paragraph and provide sufficient information to explain the required items. Finally, provide a concluding paragraph to summarize your suggestions.
1. Identify either a consumer or business market.
2. Describe your bases for segmenting the market (Ex. â€“ Demographics).
3. Identify segmentation descriptors (Ex. â€“ Age, occupation, income).
4. Explain your rationale for the segmentation descriptors.
5. Describe the selected target market for the scenario product.
6. Identify a marketing mix (Product, place, promotion, price).